Blessed with the Olympic Games and political advertising, Belo Corp.’s TV operations generated a 7% increase in ad revenue during the third quarter.
The company said sales totalled $171.3 million, up from $160 million last year. The division’s cash flow increased 9% to $72 million.
The newspaper and TV company charged $7.5 million against earnings, however, because of the July shutown of joint-venture cable news channels with Time Warner in San Antonio and Houston and the severing of their partnership in a third channel in Charlotte, N.C.
At the time, Belo pointed to the existing news competition in the markets, including from its own stations (KHOU-TV Houston, KENS-TV San Antonio and WCNC-TV Charlotte), that made it "tough to gain a foothold," said Belo President, media operations, Jack Sander.